West Harlem Manhattanville Building Sells for $18M
A three-story building and future development project located adjacent to the Columbia University Expansion Project in West Harlem’s Manhattanville has been sold for $18.05million, according to Invictus Property Advisors who handled the sale.
The recent sale traded for $394 per buildable sq. ft., which is a record-breaking price for a development site in Upper Manhattan, say founders Josh Lipton and Andrew Levine who represented both the undisclosed buyer and the seller, the Cayer Family, which has owned the existing 22,500 sq. ft. building since 1986 where they operated their business.
As a development project, the building site represents a total buildable square footage of 45,770 buildable sq. ft. Lipton said the Invictus team identified “a developer with a long term outlook who envisions leasing the existing asset in the short-term and ultimately redeveloping the asset and holding for decades to come.”
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